Tax Bill
- Thread starter sturg33
- Start date
https://finance.yahoo.com/news/smal...nings-jump-time-high-nfib-says-100017769.html
Ho hum
And you all wonder why we trumpy supporters have grown in numbers and are more satisfied than ever.
Ho hum
And you all wonder why we trumpy supporters have grown in numbers and are more satisfied than ever.
cajunrevenge
Well-known member
I think the movie idiocracy explained it just fine.
The news keeps getting better:
https://www.washingtontimes.com/news/2018/may/7/cbo-says-april-was-best-month-history-us-budget/
All told the government collected $515 billion and spent $297 billion, for a total monthly surplus of $218 billion. That swamped the previous monthly record of $190 billion, set in 2001.
....
“Those payments were mostly related to economic activity in 2017 and may reflect stronger-than-expected income growth in that year,” the analysts said in their monthly budget review. “Part of the strength in receipts also may reflect larger-than-anticipated payments for economic activity in 2018. The reasons for the added revenues will be better understood as more detailed information becomes available later this year.”
...
So far, seven months into fiscal year 2018, the government is running a $382 billion deficit. That’s $37 billion worse than last year’s figure through seven months, chiefly because spending has surged 5 percent so far this year.
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Once it can be demonstrated to people that they don't need government services to run their lives we can actually cut spending and fix our debt crisis. You lower taxes and you get higher tax revenues. Its not difficult.
https://www.washingtontimes.com/news/2018/may/7/cbo-says-april-was-best-month-history-us-budget/
All told the government collected $515 billion and spent $297 billion, for a total monthly surplus of $218 billion. That swamped the previous monthly record of $190 billion, set in 2001.
....
“Those payments were mostly related to economic activity in 2017 and may reflect stronger-than-expected income growth in that year,” the analysts said in their monthly budget review. “Part of the strength in receipts also may reflect larger-than-anticipated payments for economic activity in 2018. The reasons for the added revenues will be better understood as more detailed information becomes available later this year.”
...
So far, seven months into fiscal year 2018, the government is running a $382 billion deficit. That’s $37 billion worse than last year’s figure through seven months, chiefly because spending has surged 5 percent so far this year.
____________________________________________________________________________________
Once it can be demonstrated to people that they don't need government services to run their lives we can actually cut spending and fix our debt crisis. You lower taxes and you get higher tax revenues. Its not difficult.
They will continue to deny the merit of a low tax/regulatory environment. This is the way it should always be. Take power away from the government and put it in the individuals hands. Rising tide...
sturg33
I
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<B><I>The Artist Formally Known as <P>Ventura's St
If you guys don’t care about the deficit, I’m cool with your argument here. If you think the solution to pay for this is to privatize social security and Medicare, it’s not so cool.
And to thethe’s point, a 10% tax would pay the government a lot more than a 1% tax. Ask Oklahoma about their fracking/budget versus North Dakota. Oklahoma probably has the most conservative government in the nation and they’re constantly running deficits because they refuse to do anything about it other than cut education so they can have 4 day school weeks.
And to thethe’s point, a 10% tax would pay the government a lot more than a 1% tax. Ask Oklahoma about their fracking/budget versus North Dakota. Oklahoma probably has the most conservative government in the nation and they’re constantly running deficits because they refuse to do anything about it other than cut education so they can have 4 day school weeks.
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Let people keep their money and save for themselves
sturg33
I
You probably wouldn't be up for the amount of spending cuts I want to see.
I'm not cool with deficits... It is robbing future generations. But the easiest way to not have them is to cut needless spending, which is 70% of our spending
Managuarantano's Volunteers
<B><I>The Artist Formally Known as <P>Ventura's St
Wait till you’re 65, and we’ll see if you still agree with this. I’ve met several people who had this opinion in their 30s who suddenly changed their mind around retirement age.
I think all young people are assuming the program(s) will end, but they don’t have to.
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<B><I>The Artist Formally Known as <P>Ventura's St
A trillion dollar deficit is hard to kill with just spending cuts unless you’re going to the military, which I know almost everyone is against. You need both cuts and to avoid lowering taxes excessively.
I'm ensuring I have my own retirement package. Equities/real estate /career using my mind.
My retirement is very secure without a penny from the government. It'd be even more secure if this tax code was in place for the last 15 years
Look at the surplus generated in april. It's consistently a month with surplus but we are still trending at highs while also increasing apending. Let this administration make cuts to programs and allow tax cuts to take full effect. Our budget deficit will look much better at the end of 2024.
Managuarantano's Volunteers
<B><I>The Artist Formally Known as <P>Ventura's St
Even so, I think you’ll appreciate it.
You can’t expect everyone else to be as smart as you were financially (or you can, but they will let you down). Plus some people have things like near terminal cancer pop up that are uncontrollable.
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<B><I>The Artist Formally Known as <P>Ventura's St
I am fairly sure that the largest gains from the bill will be immediate when companies are changing their plans for the law. Let’s give it a year and see if we’re still having record highs.
All I will appreciate is getting back a fraction of the value of the money I put in over time.
I get it. Not everyone makes the right decisions. What I don't get is why those of us that do should be penalized for it. I'm all for supporting the sector of society that truly is unable to support themselves. Those able bodied and mind should fend for themselves. It's not all that difficult to make smart financial decisions.
Repatriation of overseas cash will generate a nice boon for sure. However, ecpandinding workforce also contributed to the tax pool on both the the employer and employer side.
There is a lot of investment being done currently which results in what's called section 179 depreciation. Essentially business owners can buy expensive fixed assets to grow their business and take a temendous amount of depreciation up front reducing their cash outlay for tax purposes in the early years. This will reduce the tax contributions early on but to be made up in the latter years.
We are seeing massive business expansion in all sectors. This is not a temporary fad. All markets of course are cyclical but this growth period is not due to let up for quite some time.